Lancer Group Receiver, Citco Group Reach $5M Settlement

Law360, New York (August 31, 2011, 10:06 PM EDT) -- The receiver seeking to recover from the alleged $200 million Lancer Management Group LLC investment fraud reached a $5 million settlement Wednesday with The Citco Group Ltd. and related entities over money they received from the scheme.

Marty Steinberg, the receiver for Lancer Management, Lancer Offshore Inc. and The OmniFund Ltd., among other funds, filed a motion to approve a stipulation of settlement with Citco, Citco Acceptance Corp., Citco Fund Services U.S.A. Inc., Inter Caribbean Services Ltd. and several individual defendants as he continues to close...
To view the full article, register now.




Case Information

Case Title

Securities Exchange v. Lauer, et al

Case Number



Florida Southern

Nature of Suit



Kenneth A. Marra

Date Filed

July 8, 2003

Law Firms


Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.